Panacea Life Sciences secures $1M via convertible note and warrant sale to Lincoln Park Capital

PANACEA LIFE SCIENCES HOLDINGS, INC.

Sold $1.1M senior convertible note (net $1M) and warrants for 785,715 shares at $1.40 to Lincoln Park Capital Fund.
Note due Nov 18, 2022; 12% interest if SEC filings missed, 18% on default; conversion at $1.40.
Warrants exercisable from May 18, 2022 for 5 years at $1.40; 4.99% beneficial ownership cap.
Investor may buy an additional $1.1M note and warrants on same terms within 91 business days.

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